Bank of Slovenia Dep Gov Dolenc: Growth “Relatively Resilient”, Inflation Close to Target

31 October 2025

By David Barwick – FRANKFURT (Econostream) – Bank of Slovenia Deputy Governor Primož Dolenc on Friday said that euro area growth was showing resilience and that following yesterday’s decision to leave interest rates unchanged, the European Central Bank’s Governing Council would adjust its monetary policy stance according to incoming data.

In a statement posted to the website of the Bank of Slovenia, Dolenc, who is acting as governor in the context of the Slovenian government’s continued inability to fill the top spot after the departure 10 months ago of Governor Boštjan Vasle, said that “current data … indicate that inflation in the euro area remains close to its 2% medium-term objective.”

“Our further steps will continue to be based on the assessment of the inflation outlook and the associated risks, the dynamics of underlying inflation and the strength of the monetary policy measures,” he said. Decisions would be taken meeting by meeting, he said. 

Growth remained “relatively resilient,” he said. Although core inflation climbed recently to 2.4%, “the expected further moderation in wage growth suggests that it will decline in the medium term,” he said.

Dolenc became acting governor last 9 January, in which capacity he is invited to attend meetings of the Governing Council of the ECB, but does not have voting rights for monetary policy decisions.